Kangra cooperative bank to recruit 500 employees

Dharamsala-headquartered Kangra Central Cooperative Bank (KCCB) is planning to recruit 500 employees in different categories during the next one year. Chairman KCCB, Jagdish Sapehia, informed this while addressing a press conference here on Saturday.

“To improve facilities for customers and smooth functioning of the bank, the management has planned to recruit 500 employees and it will be completed within one year,” said Sapehia. He told that the bank had a working capital of Rs 18000 crore and was the first co-operative bank in the country to touch the figure.

Sapehia told that the bank had customer base of 10 lakh persons and the net profit in last fiscal year was Rs 35.6 crore.

“We have set a target to increase the profit to Rs 100 crore in next five years,” said he. He said the bank had been interconnected with five nationalised and private banks and customers would be now able make transaction in the Automatic Teller Machine (ATM) counter of these banks anywhere in the country.

He said the process to interconnect KCCB with other banks for ATM transactions will be completed soon. “This facility would be available for the customers within next 15 days. We have already conducted successful trial for the facility,” told Sapehia. On pension related-matters, he said the bank is committed to continue the pension scheme for its employees, for which the talks are in progress with the leaders of the employees. He said the bank authority had provided financial benefits worth Rs 27 crore to its employees during the last financial year.

Meanwhile, the bank on the occasion also signed a Memorandum of Understanding (MoU) with leading tractor manufacturing firm Sonalika. According to the agreement, the bank will provide a special discount of `6000 on purchase of tractors to the farmers if the loan is raised from the KCCB.

“Sonalika firm has a share of 40 percent in the tractor market of the region, it would definitely improve the revenue of bank,” added Sapehia.